From exclusive educational discounts to health and lifestyle benefits, POSB’s Child Development Account (CDA) is the perfect companion for parents looking to give their children the best start in life.
Welcoming a new baby is like stepping into a world of wonder where tiny fingers grip yours and first smiles become your new favourite sight. Amid the joy, though, comes a whirlwind of practical and financial tasks that can be as challenging as they are exciting. But fret not, because your secret weapon in this adventure is the Child Development Account (CDA). Thanks to the Baby Bonus scheme, you’ll receive handy financial support right when you need it. And with POSB’s help, managing these funds has never been simpler, letting you focus on those precious moments without a hitch.
Smiles Guaranteed with POSB CDA!
To celebrate this joyous new journey in life, POSB is excited to offer a range of promotions designed to make this transition even more rewarding. The first 100 customers opening a CDA from this month will receive a POSB Smiley gold bar valued at S$199 – an elegant and meaningful token to mark your baby’s first bank account. Additionally, every new CDA holder will receive a complimentary 6-month personal accident plan* for your child. This plan offers coverage of up to $20,000 for newborns, ensuring peace of mind during those precious early days.
Choosing POSB for your CDA means more than just a bank account; it’s about becoming part of a community that values and supports your family’s journey. The bank’s competitive interest rates make saving for your child’s future even more rewarding: Expect 1 percent per annum for the first $10,000, 2 percent per annum for the next $40,000, and 0.05 percent per annum above $50,000. Plus, if you’re currently holding a CDA with another bank, switching to POSB means you can immediately start enjoying these benefits.
Ready to kickstart your child’s financial journey? It’s as easy as pie! Just saunter over to our POSB website and navigate through by clicking on Bank -> Accounts -> For Kids -> POSB Child Development Account (CDA). Hit the “Apply Now” button, and voilà! You’ll be whisked away to the LifeSG website. Once there, select POSB and follow the friendly instructions in the email from LifeSG. Before you know it, your little one will be on their way to a bright financial future.
Parenting Perks with POSB Power
But that’s not all – POSB CDA account holders can also enjoy a host of exclusive deals with merchant partners. From discounts on baby products and health services to savings on family lifestyle experiences, POSB has partnered with leading businesses to bring you value that supports your family’s needs. So when you flash your POSB Baby Bonus ATM card at these selected merchants, you’re in for a treat!
For example, you can give your little one a head start in school and enjoy waived registration fees at Mindchamps Preschool or get $20 off at Kindermusik. There are a host of special discounts you can enjoy too! Get 5 percent off at My Greatest Child bookstore or a whopping 25 percent off a one-year subscription on Vooks, a children’s digital library and streaming platform for read-aloud, animated children’s books. Even bath time gets a boost with an 8 percent discount on water training and massages at Baby Spa.
Looking for stylish family photos to welcome your bundle of joy? Capture those precious moments with 10 percent off photoshoot packages at Orange Studio. Plus, pamper your baby with 25 percent off Gaia products and S$30 off goodies at Baby Nature Co.
New moms, POSB’s got your back (literally). Treat yourself to an S$18 lactation massage or a S$28 postpartum treatment at Schonemama. And here’s something fresh – enjoy home vaccinations by Mana Dr for added peace of mind! Additionally, you can celebrate your little one’s milestones with 10 percent off baby full month gift sets and 15 percent off cakes at Pine Garden, or get a box of baby full month sweet treats free with every 10 boxes purchased at Sweetest Moments.
After all, you’ve got enough on your plate, so why not let POSB take care of the rest for a sweeter, easier and more memorable parenting journey?
Why You Should Choose POSB
If anyone understands the importance of beginning your child’s savings journey early on, it’s POSB. As Singapore’s oldest bank, their rich history is intertwined in the significant milestones of many Singaporean families. Your family’s savings goals are always a priority, and the bank is committed to empowering Singaporeans with the knowledge and tools they need to save smarter.
Beyond opening a CDA account, POSB has been a champion of savings through various community partnerships, financial literacy programmes in schools, and other savings solutions such as the POSB Smart Buddy 2X Savings Booster, which is designed to instil good money habits in children early on.
POSB is dedicated to helping you and your child save for all the things that matter – yesterday, today, and always. So why wait? Start or switch to a Child Development Account (CDA) with POSB today and take the first step towards a secure financial future for your little one. Visit the POSB website to explore the new CDA journey, take advantage of their exclusive offers, and discover how POSB can be your partner in this exciting chapter of your life.
*SGD deposits are insured up to S$100k by Singapore Deposit Insurance Corporation Limited (SDIC). Terms and conditions apply.
*Underwritten by Chubb. T&Cs apply.
